08 Nov 7 UNITS IN VENICE – LOCATED BETWEEN ABBOT KINNEY AND THE BEACH – Venice Beach Investment Property
235 HORIZON AVE VENICE, CA 90291
7 UNIT VENICE BEACH INVESTMENT PROPERTY
3 BLOCKS TO THE BEACH & 1 BLOCK TO ABBOT KINNEY
Current GRM 17.66 / Pro-forma GRM 13.03
Current CAP 3.73% / Pro Forma CAP 5.69%
Offered at $3,300,000
Click Link For SETUP –> 235 Horizon Ave- Setup
PROPERTY HIGHLIGHTS FOR 7 UNIT VENICE INVESTMENT PROPERTY:
Located 1 block west of Abbot Kinney Blvd “The Coolest Street in America”
- Nestled in the Windward Circle neighborhood of Venice, between Abbot Kinney and Main Street
- Walk 3 blocks to Venice Beach
- Two units have been beautifully renovated
- Easy bike ride to Santa Monica and Marina Del Rey
- Approximately 35% upside in rents
- Walking distance to popular restaurants, entertainment, and beach
- Great mix of (4) 2 + 1, (2) 1+1+loft and (1) 1+1
Call Eric von Bluecher & Kenny Stevens now for an evaluation of your income properties or to discuss portfolio management at 310.900.9505
Eric von Bluecher
Evonbluecher@concord-re.com
C: 310-900-9505
BRE: #01926201
Kenny Stevens
Kstevens@concord-re.com
C: 310-968-7005
BRE: #01090251
VENICE BEACH NEWS:
VENICE BEACH, Over the course of just a couple of years, Venice has become one of the most expensive neighborhoods in Los Angeles. According to the real estate website Zillow, it is the seventh most expensive neighborhood in which to buy a house, its median home value – $1,578,200 – coming in just behind the Hollywood Hills and just ahead of Beverlywood. According to ApartmentList.com, the average rental price of a two-bedroom apartment in Venice is $4,900 a month – well ahead of Westwood, Santa Monica, Brentwood, even Bel-Air and the Hollywood Hills. When you rank neighborhoods in the city of L.A. by price per square foot of real estate, Venice becomes even loftier: According to data provided to L.A. Weekly by Zillow, Venice is tied with Bel-Air for No. 2. Only the Pacific Palisades is more expensive per square foot. As for median rental price per square foot, Venice is the most expensive place in L.A.
Venice Articles:
GQ’s Coolest Block In America: Abbot Kinney Takes The Cake
Abbot Kinney: America’s Coolest Street Is Quintessentially LA
Music producer Ross Robinson lists Venice home for $11.7 million
SILICON BEACH NEWS:
SILICON BEACH, is the Westside region of the Los Angeles metropolitan area that is home to over 500 tech startup companies. Major technology companies have opened Offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, AOL, Electronic Arts, EdgeCast Networks, and MySpace. The region is considered the second- or third-largest tech hub in the world, according to various reports. This has had major impacts on the type and availability of office space and on home prices in Venice, Mar Vista, Santa Monica, Playa Vista, Playa Del Rey, and Westchester, as these areas have become more desirable due to this influx.
Silicon Beach Articles:
Large-scale apartment development is underway in Marina Arts District